In order to strengthen the capital markets of the European Union which, after the global financial crisis, are in a tough situation, the European Commission launched an initiative called a capital market union in 2015. The initiative encompasses a series of measures aimed at creating a truly integrated single capital market by 2019. By strengthening the European capital market, it is planned to increase their role in financing the European economy. The initiative will contribute to increasing investment, growth in the economy and job creation. Implementation of the initiative is faced with numerous obstacles and challenges. The final results will depend on the cooperation and adaptation of member states. In the middle of the program period, 2017, an Action Plan revision was published. The conclusion of the audit is that the capital market union is well advanced and contributes to a better approach to financing and a higher degree of sustainability of investment. Due to the economic and political situation of the EU today, further work on the establishment of a capital market union is more important than ever. The action plan for its establishment has been updated and upgraded with new priority measures. Croatia as an EU member is actively working to fulfill the measures from the Action Plan to achieve capital market union. Particularly important are two projects of the Zagreb Stock Exchange: Progress Market and Funderbeam South-East Europe.